Reliance MF Launches Reliance Fixed Horizon Fund – XVIII – Series 9

A new close ended income scheme with the time duration of 90 days has been launched by Reliance Mutual Fund named as Reliance Fixed Horizon Fund – XVIII – Series 9. The price for the new scheme is Rs. 10 per unit. The new issue will open for subscription on 13th April 2011 and will close on the 19th April 2011.

There is no entry and exit charge for the scheme. The scheme will offer dividend option (payout) and growth option. The scheme will be standardrised against CRISIL Short Term Bond Fund Index. Minimum application amount is Rs. 5,000 and in multiples of Rs. 10 thereafter.

The fund looks for minimum subscription of amount of Rs 20 crore under the scheme during the NFO period as collection. Mr. Ritesh Jain will be the manager for the scheme.

The asset allocation of the scheme would be in such a way that less or medium risk exposure to the investment. Hence the 85% asset will be allocated in Money Market instruments, and 15% to 100% of assets in Government Securities issued by Central &/or State Government & other fixed income / debt securities but not limited to corporate bonds with low to medium risk profile. Hence its primary objective is to generate regular returns and growth of capital.

The similar scheme has been launched by the fund on 22nd March 2011 named as Reliance FHFXVIII S7, which is showing a good NAV value. The current NAV value of this scheme is Rs 10.0442, and posting a return of 0.24% on annual trend. Though the return of the scheme is not so much, only in decimals but the less risky nature of the scheme makes it safe and attractive.

The fund manager of the scheme will be Amit Tripathi.

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Kotak MF Declares Dividend For Quarterly Interval Plan – Series 9

Kotak Mutual Fund has declared dividend under the dividend option of Kotak Quarterly Interval Plan Series – 9. 6th of April 2011 is declared as the record date for the dividend. The scheme is interval debt fund has the value of Rs. 10 per unit. Benchmark Index for the scheme is Crisil Liquid Fund Index. The minimum amount of application in scheme is Rs. 5,000. The scheme has nil entry load but exit load will be charged as 1% if redeemed anytime other than the specified transaction period for redemptions/switch-outs.

The quantum of dividend will be entire appreciation in Net Asset Value of dividend option until 6 April 2011. The scheme recorded NAV of Rs. 10.0213 per unit as on 31st March 2011. Though the return rate of the scheme is negative i.e. -1.53% but the dividend declaration by the fund will boost up the confidence of the investors.The investment objective of the Scheme is to generate returns through investments in debt and money market instruments.

Source: Dion Global Solutions Ltd 19,420.39 5,826.05

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